There is an old adage that states, “The only things certain in life are death and taxes.” Needless to say, it’s not uncommon for the men and women of America to be dissatisfied about the portion of their paycheck that is appropriated by Uncle Sam.
A Massachusetts ophthalmologist went to drastic measures to decrease his tax liability and in the end was accused by the IRS of tax evasion. The IRS claims that the 50-year-old doctor owes more than $800,000 in outstanding taxes.
Court documents state the doctor allegedly neglected to pay taxes on his total earnings between the years of 2003 and 2009.
According to allegations, the doctor used his own consulting company as a placeholder for the income he earned as a practicing ophthalmologist. He allegedly diverted his income to a pension plan through the consulting company as a method to avoid the IRS.
In 2008, the doctor supposedly provided the IRS inaccurate information about the type of business of his consulting firm.
Tax evasion and audit obstruction are serious charges. For this man, they could carry a penalty of as many as 8 years in prison, as well as fines and probation. Because the doctor chose to plead guilty, the U.S. Attorney’s office said it will suggest a lighter sentence. As of now, there has been no hearing to cover the terms of the doctor’s plea agreement.
Because crimes against the IRS are punishable by prison time and substantial fines, individuals who find they are facing charges of tax evasion might find it beneficial to discuss their options with qualified Massachusetts legal professionals.
Source: Boston.com, “Brookline ophthalmologist agrees to plea on tax evasion charge,” Brock Parker, 22 June 2011